GB, Here's news on the other FAVORITE LONG featured by TOP DOG for
the last 4 weeks or more... the other favorite we have is TSIS which
of course you already know and is already gaining attention... CITN
is going to be a huge player.. this is just the beginning.. 113% INCREASE IN REVENUES!! They will be showing a full profit in just
a few months... keep an eye on it.. this one SHOULD bring in real world buying soon.
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Tuesday May 5, 8:31 am Eastern Time
Company Press Release
Citadel Technology Announces 113 Percent Increase in Fourth Quarter Revenues
DALLAS--(BUSINESS WIRE)--May 5, 1998--Citadel Technology Inc. (OTCBB:CITN - news) announced today that the sales for the fourth quarter of fiscal year 1998 are expected to exceed sales in the third quarter of fiscal year 1998 by 113 percent.
The company expects gross sales for the quarter ended Feb. 28, 1998 to be approximately $600,000, as compared to $269,000 for the quarter ended Nov. 30, 1997. The company also expects that the results of its operations for the quarter, before depreciation and amortization, to be at or near break-even, as originally projected.
Steven B. Solomon, Citadel Technology CEO said, ''We are extremely proud of the progress we have made over the past twelve months. This quarter represents clear evidence that the turnaround is behind us. We are clearly establishing significant momentum for the future. This has been a challenging year, but the fruits or our labor are clear when reviewing the developments that we have had to date including: Citadel products being featured in trade shows with companies like Novell, IOMEGA, and Microsoft; the bundling of our products with Microsoft and Compaq computer sales; a 13 percent investment in our company by Metamor Worldwide Inc. [Nasdaq:MMWW - news], formerly CORESTAFF; placement of our products in 576 Office Depot outlets and other major retail chains; our recently announced partnering with System Plan that will bring our fully localized products to the Japanese market; and, our new office association with Guildsoft, Ltd. in England.''
Solomon continued, ''Revenue for the current quarter already exceeds revenue for the previous quarter, and we still have a month to go. Looking forward, we anticipate sales to be at record levels. In addition, we have recently introduced two new products and plan on introducing several more over the next couple of quarters.''
For more information on Citadel Technology products, visit the company's homepage at citadel.com. For information on purchasing product, contact the company directly by writing or calling: CTI, 3811 Turtle Creek Blvd., Ste. 600, Dallas, 75219; phone 214/520-9292, fax 214/520-9293. For media or investor relations contact: The Investor Relations Group at 212/664-8489.
Citadel Technology Inc., formerly Citadel Computer, is a developer and marketer of computer software products including security and management utilities for networks and personal computers. The company's products are designed to secure and manage personal computers (PCs) and local area networks (LANs) and enable network administrators to more efficiently manage the networks. Company products are designed to reduce client costs, improve the accuracy of clients' information, maintain the operation of the network, secure the network from fraud or unauthorized use, and generally enable the administrator to devote more time to improving service to the network rather than focusing on operational details.
The above statements are not strictly historical facts and include forward-looking statements that involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements could differ materially as a result of, among other things, the following: acceptance of products in the Japanese market, sales and manufacturing issues associated with economic trends, currency exchanges, integration of acquired technology and companies, transition of selling and distribution methods, uncertainty related to retail placement of products, the availability of capital on terms acceptable to the company, general economic conditions, competition, the market for the network software products, software development costs and possible future litigation, as well as the risks and uncertainties discussed in the company's public reports and filings and public statements.
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Contact:
Company Contact:
Citadel Technology, Dallas
Steve Solomon, CEO, 214/520-9292
or
Media and Investor Contact:
The Investor Relations Group, New York
Judy Walters/Dian Griesel, Ph.D., 212/664-8489
fax: 212/664-8431
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More Quotes
and News: Citadel Technology Inc (OTC BB:CITN - news)
Metamor Worldwide Inc (Nasdaq:MMWW - news)
Related News Categories: computers
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